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Diamond Works for Down Syndrome

The Down Syndrome Association of Namibia was fortunate to be selected by the Diamond Works to benefit from its first ever Diamond Works Spending for Charity Event.  This exclusive event attracted members of the diplomatic corps, bankers, businessmen and women, and politicians.
N$25,000 was raised for the association. The Diamond Works dedicated a percentage of the sales of the evening and the auctioning of a pair of earrings from the world renowned French jewellery house of Feberegè to the Down Syndrome Association. Dr. Eline van der Linden, a founding member of the association, took the opportunity to share some recent experiences and challenges with the esteemed guests.

Since its launch in October 2012, the association has reached out to Down Syndrome support group in the Oshana Region and is helping this group with registration, information and fund-raising activities.   In another activity, the association advocated on behalf of a child with Down Syndrome who was  denied medical insurance, and supported parents of babies with Down Syndrome to get access to medical services.  The association also facilitated the placement of children with Down Syndrome in schools and participated in workshops on the condition organized by the Dagbreek and Moreson schools.  A picnic was held in the Parliament’s gardens for families with Down Syndrome children to get to know each other. Currently, the biggest challenge is to locate all the people with Down Syndrome in Namibia.  The fear of being stigmatized stops many parents and caretakers to be open about the fact that their family includes a person with Down Syndrome.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.